Accoring to information released Thursday by the Tennessee Department of Labor and Workforce Development (TDLWD), the state’s unemployment rate held steady between September and October, at 3.4%.
State officials say that the current
rate is still very close to the all-time low of 3.2 percent, which
Tennessee recorded earlier this year.
“Month after month, we continue to see Tennessee’s unemployment rate hold steady, very close to the all-time historic low, and that’s great news,” said TDLWD Commissioner Jeff McCord. “Even with unemployment at its current level, we are mindful that not all sectors are the same and will continue to work with individuals who need assistance in transitioning employment.”
Between October 2018 and October of this year, Tennessee’s nonfarm employment increased by 38,900 jobs. The most significant increases occurred in the leisure/hospitality, professional/business services, and trade/transportation/utilities sectors.
The latest statistics show the number
of nonfarm jobs dropped by 5,100 between September and October of
this year. The largest decreases occurred in the manufacturing,
professional/business services, and other services
Nationally, seasonally adjusted unemployment experienced a slight uptick. October’s rate of 3.6 percent is 0.1 of a percentage point higher than the previous month’s rate of 3.5 percent.